Katherine Burton, Zachary Mider, Janet Lorin, and Miles Weiss write in Bloomberg:
Robert Mercer, the hedge fund titan who financed the nationalist movement that elected President Trump, stepped down from the helm of his investment firm amid intense criticism. But that doesn’t mean he’s finished with politics.
Mercer’s decision to resign as co-chief executive may insulate the $50 billion Renaissance Technologies from political controversy a year after Donald Trump won the White House. Mercer became a lightning rod for activists and drew criticism from at least one former executive at Renaissance.
Mercer, who also mentioned his “great respect” for Bannon in the memo, didn’t break entirely with the movement that his bounty helped finance. He and his daughter, Rebekah, an early adviser to Trump, rank among the nation’s most powerful Republican donors. Mercer is limiting his duties to research at the firm partly to allow him to increase his political involvement unencumbered by his business responsibilities, said a person familiar with the matter.
Read the rest here.